If you're heating using electricity then it's financially equivalent. It's actually beneficial to be able to use that energy for an additional purpose (mine crypto or this) than to just burn it.
I believe with heat pumps (at least ground sourced heat pumps) you can get something like 3-5 units of heat per unit of electricity. (Compared to 11-15 EERs for cooling.)
Efficiency of heat pumps are roughly the same for heating and cooling (the only difference is which side you measure from -- the hot side gets the electrical power input counted in its power). The reason EER is so high is that they used absurd units for the heat flow (BTU/h = 0.3W) so you need to divide EER by 3.4 to get the actual efficiency in unit per unit.
